Consumer Loan Officer

Mayo Employees Federal Credit Union • Phoenix, AZ

1d • $23 - $25 • Onsite

About The Position

Mayo Employees Federal Credit Union (MEFCU) is looking for someone with exceptional communication skills, a knack for building strong relationships, and a passion for providing top-notch service to join our team as a Consumer Loan Officer! This role involves counseling and assisting members with credit transactions, providing sound financial counsel, approving or declining credit requests, and exploring alternative avenues to avoid bankruptcy filings. The position also includes educating members on credit protection insurance, communicating with members who have collection accounts, providing recommendations for past due accounts, and referring members to the Collection Officer when necessary. Additionally, the Consumer Loan Officer will provide book-pricing information of assets, evaluate credit requests with a focus on member financial wellness, access credit reporting agencies, gather background information on loan applicants, assist members with credit file information, pull credit reports, verify debts, estimate monthly payments, assemble outside documentation, determine collateral needs and payment plans, determine eligibility of loan co-makers, and enter loan information into lending software, ensuring accuracy.

Requirements

• A high school diploma or equivalent AND two years of consumer loan experience while working in a financial institution.
• Internal candidates currently meeting performance standards in a Member Service Representative or Member Contact Center Representative role will also be considered.
• All employees must be bondable by MEFCU’s insurance policy.
• Continued employment is subject to maintaining favorable bondable status per insurance standards.
• Knowledge of: overall credit union philosophy and operations, loan products and promotions, current lending practices, financial industry standards and best practices, regulatory requirements
• Skill in: organization, time management, interpersonal communication, providing superior customer service, written and verbal communication, developing good rapport with a diverse group of people, Microsoft Office Suite
• Ability to: cross-sell loan and non-loan products, perform multiple tasks simultaneously with a high degree of accuracy, analyze issues, communicate effectively, work independently and as part of a team

Responsibilities

• Counsels and assists members with credit transactions.
• Provides sound financial counsel to members seeking assistance with credit decisions.
• Approves and declines requests for credit based on current policies, procedures and regulations.
• Counsels members with credit problems, exploring alternative avenues to avoid bankruptcy filings.
• Educates members and provides counsel on the benefits of credit protection insurance coverage on loans.
• Communicates with and provides financial plans to members with collection accounts.
• Provides recommendations to members on past due accounts, which may include third party collections, repossession and foreclosure action.
• Refers members who fail to make required loan payments to the Collection Officer for follow up.
• Provides members with book-pricing information of assets.
• Books collateral values offered on loan accounts to ensure credit union policies are being met and credit union risk is minimized.
• Evaluates credit requests in accordance with current policies, procedures and regulations with a focus on maintaining member “financial wellness”.
• Accesses a variety of credit reporting agencies to assist in assessing credit union portfolio risk.
• Gathers background information on loan applicants by interviewing loan applicants, discussing applications with team members and obtaining credit bureau reports.
• Assists members in recording or removing information in their credit files.
• Pulls credit reports for all accounts, verifies debts, estimates monthly payments for any outstanding debts not listed and adds them to debts on application.
• Assembles outside documentation to support all lending decisions according to policies, and procedures.
• Determines collateral needs and payment plans for members applying for loans.
• Determines eligibility of loan co-maker from co-maker's statement and credit rating.
• Enters loan information on lending software, updating information in computer as loan application progresses from application to disbursal.
• Ensures completeness and accuracy of loan to be disbursed.

Benefits

• Affordable Medical Plans
• Six Paid Holidays and Generous Accrued Paid Time Off Plan
• Employer-Paid Life and AD&D Insurance (additional voluntary coverage is available for employee purchase too!)
• Employer-Paid Short and Long-Term Disability Insurance
• Employer-Paid Health Reimbursement Account or Health Savings Account contribution
• 401k Plan with Generous Employer Match
• Tuition Assistance
• Flexible Spending Accounts
• Employer-Paid Identity Theft Insurance
• Employee Assistance Program
• Voluntary Accident and Critical Illness Insurance
• Discounted Pet Insurance Program

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED